Delayed commencement of SM&CR for solo-regulated firms published
Regulatory Updates | 02/09/20
The Bank of England and Financial Services Act 2016 (Commencement No. 6 and Transitional Provisions) (Amendment) Regulations 2020 have been published on legislation.gov.uk. Amongst other things, the Regulations delay the commencement date of the provisions in the Bank of England and Financial Services Act 2016 (Commencement No 6 and Transitional Provisions) Regulations 2019 which bring into force the senior managers and certification regime (SM&CR) for solo-regulated firms other than benchmark firms from 9 December 2020 to 31 March 2021. This delay has been introduced in response to the disruption caused by the coronavirus pandemic.